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By Savyata Mishra
(Reuters) -Australia's Graincorp raised its annual profit forecast for the second time, as the agribusiness firm capitalises on strong demand for grains and vegetable oils amid a supply crunch from the war in Ukraine, pushing its shares up more than 10%.
The profit upgrade on Wednesday was also encouraged by expectations of above-average East Coast Australian (ECA) crop in year 2022/23, combined with a favourable three-month rainfall outlook.
Global wheat prices reached reco...
>>> Read more: Australia's Graincorp hikes profit view again on soaring demand, favourable weather
(Reuters) -Australia's Graincorp raised its annual profit forecast for the second time, as the agribusiness firm capitalises on strong demand for grains and vegetable oils amid a supply crunch from the war in Ukraine, pushing its shares up more than 10%.
The profit upgrade on Wednesday was also encouraged by expectations of above-average East Coast Australian (ECA) crop in year 2022/23, combined with a favourable three-month rainfall outlook.
Global wheat prices reached reco...
>>> Read more: Australia's Graincorp hikes profit view again on soaring demand, favourable weather
